February 17, 2013

GREEDY POLITICIANS ARE ALL THE SAME: Argentina Stiffs Pensioners. “The U.S. is no stranger to these problems, particularly as politicians try to force pension funds to ‘invest’ in pork belly projects. Proposals now on the table to reduce the degree to which social security pensions are topped up for inflation will have the effect of transferring money from pensioners back to the government, where it will be used again for whatever purposes politicians want. What’s needed is an actuarially sound, adequately financed, conservatively invested pension system. Anything else is a gimmick. Unfortunately, there are lots of gimmicks floating around these days.”